Commission Decision of 18 July 2007 on State aid C 37/05 (ex NN 11/04) implemented by Greece — tax-exempt reserve fund (notified under document number C(2008) 3251) (Only the Greek version is authentic) (Text with EEA relevance) (2008/723/EC)

Article 1 U.K.

1. The State aid scheme implemented by Greece under Article 2 of the Law 3220/2004 is incompatible with the common market.

2. In the agricultural sector, aid granted for relocation of farm buildings does not constitute State aid within the meaning of Article 87(1) of the Treaty, when relocation results from an expropriation which, in accordance with the legislation of the Member State concerned, gives right to compensation. This aid is compatible with the common market in the other cases of relocation.

Article 2 U.K.

Individual aid granted under the scheme referred to in Article 1(1) of this Decision does not constitute aid if, at the time it is granted, it fulfils the conditions laid down by a regulation adopted pursuant to Article 2 of Council Regulation (EC) No 994/98(1) which is applicable at the time the aid is granted.

Article 3 U.K.

Individual aid granted under the scheme referred to in Article 1(1) of this Decision which, at the time it was granted, it fulfilled the conditions laid down by a regulation adopted pursuant to Article 1 of Regulation (EC) No 994/98 or by another approved aid scheme is compatible with the common market up to maximum aid intensities applicable to that type of aid.

Article 4 U.K.

1. Greece shall recover the incompatible aid granted under the scheme referred to in Article 1(1) of this Decision from the beneficiaries.

2. The sums to be recovered shall bear interest from the date on which they were put at the disposal of the beneficiaries until their actual recovery.

3. The interest shall be calculated on a compound basis in accordance with Chapter V of Commission Regulation (EC) No 794/2004(2).

4. Greece shall cancel all outstanding payments of aid under the scheme referred to in Article 1.1 with effect from the date of notification of this decision.

Article 5 U.K.

1. The recovery of the aid granted under the scheme referred to in Article 1(1) shall be immediate and effective.

2. Greece shall ensure that this Decision is implemented within four months following the date of notification of this Decision.

Article 6 U.K.

1. Within two months following notification of this Decision, Greece shall submit the following information:

(a) the list of beneficiaries that have received aid under the scheme referred to Article 1(1) and the total amount of aid received by each of them under the scheme;

(b) the total amount (principal and recovery interests) to be recovered from each beneficiary;

(c) a detailed description of the measures already taken and planned to comply with this Decision; and

(d) documents demonstrating that the beneficiaries have been ordered to repay the aid.

Greece shall submit this information using the form given in the Annex.

2. Greece shall keep the Commission informed of the progress of the national measures taken to implement this Decision until recovery of the aid granted under the scheme referred to in Article 1(1) has been completed. It shall immediately submit, on simple request by the Commission, information on the measures already taken and planned to comply with this Decision. It shall also provide detail information concerning the amounts of aid and recovery interest already recovered from the beneficiaries.

Article 7 U.K.

This Decision is addressed to the Hellenic Republic.

Done at Brussels, 18 July 2007.

For the Commission

Neelie Kroes

Member of the Commission